“ as Fed interest rates rose, the interest rates on deposits (i.e. individual savings accounts) did not increase at all” Very true “due to bank executives wan

“ as Fed interest rates rose, the interest rates on deposits (i.e. individual savings accounts) did not increase at all” Very true “due to bank executives wanting to harvest more of that pie for themselves.” Eh, needlessly inflammatory and does not get at the real issue, although it is undoubtedly true that banks profited by not raising deposit interest rates. Banks could not safely raise deposit interest rates because large parts of those deposits were locked into investments in fixed-rate financial instruments.